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Retirement is an important phase in life. After working for years, people look forward to having a peaceful retired life. However, without financial security, this can remain a dream. Hence, saving for retirement is very important. The government of India started the Employees Provident Fund Organization (EPFO) to allow financial security to employees after retirement. Employees Provident Fund (EPF) is a savings scheme in which both employers and employees contribute a certain amount of the employee’s salary to help them accumulate a corpus at retirement.
In this post, we will discuss the process of checking the EPFO online claim status and other important aspects related to your EPF account. Read on!
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EPF is a pension scheme that serves the purpose of employees after retirement. Under EPF both employees and employers contribute toward the PF fund. The amount contributed by the employee is 12% of the person’s salary, which is deducted from the salary of the individual. A similar amount (12%) is also contributed by the employer towards the fund. Over the years, the contribution accumulates into a corpus thereby allowing the employees to receive a lump sum amount as well as monthly pension benefits after retirement.
The employee provident fund is a government-backed savings policy. The provident fund organization of India allows employees to check EPF claim status via online and offline methods. Let us take a look at the various ways to check EPFO online claim status below:
Here are the steps to check EPF claim status through the UAN member portal:
EFP members can also visit the official UMANG portal to check the status.
Once done, you will receive details on your EPF claim type and tracking ID as well as claim date and status.
Besides the online options, there are many offline methods to check your EPF claim status as mentioned below:
This is one of the easiest ways to get the details of your UAN claim status. You can simply give a missed call to the toll-free number 011-22901406 from your registered mobile to get a message with the claim status. However, in this case, you should have your UID, PAN, and bank account details updated in your UAN account.
You can also check the claim status of EPF through SMS. Send an SMS to 7738299899 from your registered mobile number linked to your UAN portal. The format is ‘EPFOHO UAN LAN’. Here, UAN is your Universal Account Number and LAN is your preferred language (e.g., ENG for English)
Below are the language options and codes that can be used:
1. English – ENG
2. Punjabi – PUN
3. Marathi – MAR
4. Telugu – TEL
5. Malayalam – MAL
6. Hindi – HIN
7. Gujarati – GUJ
8. Kannada – KAN
9. Tamil – TAM
10. Bengali – BEN
Employees can track their EPF claim status for withdrawal or transfer by making a call to 1800 118 005, the EPFO customer care (toll-free) number that works round the clock. Employees should keep some documents handy while making the call, such as PF Account Number, UAN number, etc.
Below are the basic eligibility requirements to avail EPF scheme:
EPF claim status can be checked online by visiting the official EPFO portal. However, EPF members should have the below documents handy before initiating the process of verifying EPFO claim status.
The progress of your EPF claim passes through various stages. In the first stage, EPF claim status shows payment ‘under process.’ You can see this under process in EPFO claim status when you have raised your claim and the claim is under review at the EPFO office. So, it implies that the claim you have raised is in progress. The status will automatically change to ‘Settled’ when the funds are transferred to the bank account of the employee.
Thus, the settled status implies that the claim has been approved by EPFO and the funds have been transferred to the bank account of the applicant/employee.
One may see the ‘Rejected’ status if EPFO denies the claim made by the employee. This can be mainly due to late submission of the claim, improper signature, or any other discrepancies/mismatched details.
An employee can see the status of ‘Not Available’ if the authorities have not yet processed the claim.
Even after days of raising/filing the EPF claim, if an employee can see no progress in the EPFO claim status, the individual can file a grievance with EPFO. Below are the steps to follow for filing a grievance:
If you want to cancel the EPF withdrawal claim form online, there is no such online option available to cancel the EPF withdrawal claim request. However, employees can contact the regional office of EPFO located in your area to cancel the withdrawal claim of an EPF raised online.
Form 13 | This form is used to transfer the EPF corpus to a new EPF account at the time of changing jobs by employees |
Form 14 | This form is used to pay for a LIC policy |
Form 31 | This is a form used to raise an advanced EPF withdrawal |
Form 10 D | If a below 58-year-old EPF account holder has to leave his company due to any bodily disability this form is used to claim pension funds |
Form 20 | This is a claim form used to raise EPF claims by nominees of deceased EPF account holders |
Form 10C | This claim form helps to claim a withdrawal certificate as per the EPF Scheme |
There are several benefits of an EPF account. Not only does it act as a retirement savings pool to secure the retired lives of employees, but it also helps with tax benefits under section 80C. Further, the income earned through EPFO is also exempted from tax with a maximum INR 1.5 lakh ceiling.
In addition, the predetermined rate of interest on your EPF fund helps in capital growth. The EPF fund also serves your purpose as an emergency financial cushion during unforeseen situations. EPF also allows the account holder to withdraw the fund partially if any need arises like your children’s education, marriage, buying a home, and so on.
Wrapping up
The main purpose of starting the employee provident fund was to allow the government and private employees a sense of financial security after retirement. The EPF fund helps employees accumulate significant funds to support their requirements after they retire from their jobs and have no source of permanent income coming in. Thus, EPF not only allows security but peace of mind too for the employees as they know that they have a source of income after retirement. This makes EPF a noteworthy social security scheme.
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When the EPF claim status shows under process it means that the claim you have raised is under review at the PF office.
There are several online and offline ways of tracking the claim status of your EPF account that we have mentioned in detail in the post above.
EPFO online claim status can be checked through the EPFO portal, UAN member Portal, and UMANG Portal as well as the UMANG app. The steps to check the status is mentioned in the post above.
EPFO claims can be tracked through online and offline ways as mentioned in the post above.
It takes about 5 to 10 days for EPFO to settle claims.
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Retirement is an important phase in life. After working for years, people look forward to having a peaceful retired life. However, without financial security, this.
The Employees' Provident Fund (EPF) is a pension scheme in India managed by the Employees' Provident Fund Organization (EPFO) for salaried employees to give them.
Employees Provident Fund (EPF) is a savings scheme that caters to the retirement fund of an employee. Both the employee and the employer contribute to.
The EPF, or the Employee Provident Fund, was initiated by the Indian government in the year 1952. The Ministry of Labour and Employment was behind.
A provident fund is a retirement investment fund to support your long-term investment goals to save for your retirement. To support employees financially in post-retirement.
The Employee Provident Fund (EPF) is a retirement saving policy initiated by the Employees Provident Fund Organization (EPFO) under the supervision of the Ministry of.
Updated on Jan 22, 2024 Aashish was eagerly awaiting retirement to spend the rest of his life with his family. He has been working hard.
Employees' Provident Fund Organisation (EPFO), India, with over 6.2 crore contributory members, is one of the largest organizations in the globe providing social security services.
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